Why are order Transact Time values sometimes out of order with execution times?
Execution timestamps are prioritized; acknowledgments may appear earlier but carry later serializer times.
It is not uncommon for Transact Time values to appear out of sequence with execution times in Blue Ocean ATS logs.
Reason:
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Executions are prioritized with timestamps based on the liquidity remover’s order (the event that caused the fill).
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Cancel/Replace acknowledgments may be sent first, but their timestamps are applied later, when they hit the serializer.
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Since executions have higher priority, their times can appear earlier even if the ACK was sent before.
This behavior reflects message prioritization and does not indicate an error.